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Strategies & Market Trends : The New Economy and its Winners
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To: craig crawford who wrote (6996)5/19/2001 3:23:28 PM
From: Bill Harmond  Read Replies (3) of 57684
 
I don't follow gold, so I'd be guessing about the technicals.

I think fundamentally we should se a decline in the dollar here, much like 1995 following the lowering of US rates. So in that sense it follows that gold should rise in dollars. Also, central banks have been sellers of gold for years now, and that pressure has to ease or end eventually.

All that said, I don't think gold will return to its status as the ultimate store of wealth. The global economy has grown so large that it needed something else. US Treasury debt has become its replacement as the world's reserve commodity. It is non-callable, pays interest, and is backed by the full faith and credit of the world's largest, strongest, and most stable nation.
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